Robinhood Sank After a Blowout Quarter: Rebound, or a Slide to $76?
Robinhood (HOOD) stock closed at $89.84 on July 29, down 3.15%, slipping under $90 even after the company posted its best quarter ever.
The drop was not really about the numbers. HOOD has fallen about 14% in five days and roughly 20% this year, so the weakness runs deeper than one earnings report.
HOOD Earnings Beat, but the Market Sold the News
Robinhood reported record revenue of $1.31 billion, up 32% from a year earlier.
Adjusted earnings came in at $0.62 per share, far above the roughly $0.42 that analysts expected.
The mix told the real story. Prediction markets generated $156 million, overtaking both equities at $129 million and crypto at $100 million for the first time.
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